Equities analysts predict that Fifth Third Bancorp (NASDAQ:FITB) will announce earnings of $0.90 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Fifth Third Bancorp’s earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $0.94. Fifth Third Bancorp posted earnings of $0.85 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The firm is expected to issue its next quarterly earnings report on Thursday, October 28th.
According to Zacks, analysts expect that Fifth Third Bancorp will report full year earnings of $3.67 per share for the current fiscal year, with EPS estimates ranging from $3.60 to $3.74. For the next year, analysts anticipate that the business will post earnings of $3.32 per share, with EPS estimates ranging from $3.18 to $3.53. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Fifth Third Bancorp.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Wednesday, July 21st. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.13. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Fifth Third Bancorp had a return on equity of 13.03% and a net margin of 31.30%. During the same quarter in the prior year, the business posted $0.23 EPS.
In other Fifth Third Bancorp news, EVP Robert P. Shaffer sold 6,372 shares of Fifth Third Bancorp stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $38.41, for a total value of $244,748.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.66% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP acquired a new position in shares of Fifth Third Bancorp in the second quarter worth about $27,000. Certified Advisory Corp purchased a new stake in Fifth Third Bancorp during the 1st quarter valued at about $29,000. MUFG Americas Holdings Corp purchased a new stake in Fifth Third Bancorp during the 2nd quarter valued at about $29,000. WASHINGTON TRUST Co purchased a new stake in Fifth Third Bancorp during the 2nd quarter valued at about $33,000. Finally, Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Fifth Third Bancorp during the 2nd quarter valued at about $39,000. Institutional investors own 80.25% of the company’s stock.
Shares of Fifth Third Bancorp stock traded up $0.68 during midday trading on Friday, hitting $38.91. The company had a trading volume of 80,207 shares, compared to its average volume of 5,434,607. The stock has a market capitalization of $26.88 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.28 and a beta of 1.55. Fifth Third Bancorp has a 52-week low of $19.32 and a 52-week high of $43.06. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.89. The company has a 50 day moving average of $37.87 and a 200 day moving average of $38.83.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be issued a $0.30 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 3.08%. The ex-dividend date is Wednesday, September 29th. Fifth Third Bancorp’s payout ratio is currently 50.00%.
About Fifth Third Bancorp
Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management.
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